BlackRock Bitcoin ETF sees $405M outflow after Binance hack

• Triggers $405.3 million withdrawal from iShares Bitcoin Trust as redemptions surge
• Sparks investor caution following Binance hack and rising geopolitical risks; Ether ETFs also face withdrawals

On November 3, 2026, CoinDesk reported that BlackRock’s iShares Bitcoin Trust (IBIT) saw $405.3 million in outflows, the fund’s largest single-day redemption since June. US spot Bitcoin ETFs posted $398.6 million in net outflows that day. The sharp wave of redemptions followed a $6.3 billion hack at Binance, which heightened volatility and drove Bitcoin’s price briefly below $76,400—its lowest since August.

IBIT led ETF outflows and showed a pattern similar to declines seen in June 2026, according to CoinDesk. The sizable withdrawals dominated the day’s trading activity, with other ETFs such as Fidelity’s Wise Origin Bitcoin Fund (FBTC) posting modest inflows that only partially offset broader selling.

Analysts say investor sentiment has turned cautious after recent shocks and security concerns. Edwin Mata, CEO of Brickken, told CoinDesk the outflows don’t reflect a wholesale rejection of digital assets. Instead, investors are cutting exposure during uncertain periods, particularly when confidence in infrastructure is shaken by major incidents like the Binance hack.

Macroeconomic trends have also driven ETF outflows. In June, historical data show US spot Bitcoin ETFs lost over $5 billion as robust jobs reports and fading prospects for imminent Federal Reserve rate cuts drove risk-off trading. The lure of yield-bearing bonds over non-yielding assets like Bitcoin, alongside geopolitical risk—including fears tied to Iran and US election uncertainty—has further dampened risk appetite.

Caution has extended beyond Bitcoin. US spot Ether ETFs saw significant redemptions too, with about $140 million withdrawn on November 3 and a record $1.61 billion outflow over October. The Cryptonomist noted that sector-wide ETF outflows show widespread investor wariness in the crypto ETF market.

As of November 3, 2026, 13:09 UTC, Bitcoin (BTC) trades at $77,199.58, down 0.51% over 24 hours. Ethereum (ETH) trades at $2,276.88, down 0.12% in the same period, according to CoinMarketCap.